Canada's main stock index inched higher on Thursday, but traded below the all-time high hit in the prior session, with railway stocks and some natural resource names rising while gold miners weighed. The Toronto Stock Exchange's S&P/TSX composite index rose 7.3 points, or 0.05 percent, to 16,143.89.
Six of its 10 main sectors were higher and advancers were slightly outnumbering decliners overall. The energy group slipped 0.1 percent, while Cenovus Energy Inc rose 0.8 percent to C$11.97 after the oil sands company said it will cut an extra 15 percent of its workforce as part of a cost-cutting drive.
Bombardier Inc lost 0.6 percent to C$3.11 after the plane and train maker forecast 2018 revenue well short of analysts' estimates. The largest percentage gainer on the TSX was Mitel Network Corp, which rose 10.8 percent to C$10.47 after an analyst upgraded the stock to a "buy", while the largest decliner was Valeant Pharmaceuticals International Inc, down 2.7 percent to C$27.55.
Comments
Comments are closed for this article.